Indian companies ready to invest billions in former assets of Western firms in Russia, says Aleksey Chekunkov, Russia's Minister for the Development of the Russian Far East and Arctic.
Western countries imposed comprehensive sanctions against Moscow following the launch of the special military operation in February 2022, prompting many foreign companies to suspend or downsize operations in Russia. However, this has created an opportunity for Asian companies to enter the Russian market more vastly and fill in the niche.
️The Ministry for the Development of the Russian Far East will submit a proposal on establishing direct flights between the region's cities and India, Chekunkov, who travelled to New Delhi this week, added.
Russian Foreign Minister Sergey Lavrov in Nivember noted that Russia and India have good prospects for cooperation in the energy sector, including in hydrocarbon production projects in the Russian Far East and on the Arctic shelf.
Russia remains one of India's key partners in nuclear energy. The Kudankulam NPP, which is being built in the southern Indian state of Tamil Nadu in collaboration with Russia, had its first two blocks commissioned in 2013 and 2016. The construction of power blocks 3 and 4 began in 2017 followed by power block 5, which started in 2021.